ASX set to leap after techs power Wall Street bounce
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Australian shares are set to leap at the open, as they play catch up to a rally on Wall Street, triggered by renewed demand for tech stocks.
ASX futures were up 107 points or 1.6 per cent to 6800. The S&P/ASX 200 shed 49.9 points or 0.7 per cent on Friday. The local currency slipped 0.5 per cent.
In New York, all three benchmarks closed sharply higher on Friday local time, though that was not before a broad selloff to start the day.
The trigger for the drop was the February jobs report, which was better than expected and was at least initially interpreted as a sign that US interest rates may need to be lifted sooner than later.
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When Grace Tame stood on a podium next to Scott Morrison on January 25, little did she know that would be the start of what some have called Australia s second-wave #MeToo moment.
Two cabinet ministers have now gone on medical leave and are under severe pressure to resign, embroiled in separate scandals stemming from sexual assault allegations.
A government is in political crisis and the prime minister is facing questions over his handling of the saga.
Hundreds of fed-up Australian women are planning to march to the nation s capital to make their rage heard over the events of the past month.
An independent inquiry into the workplace culture of Australia's Parliament launched after several rape allegations involving staff members of the ruling Liberal party will report its findings by November, Finance Minister Simon Birmingham said on Friday.
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